FX.co ★ Thai Stock Market Tipped To Open In The Red

The Thai stock market has experienced fluctuations over the past five trading sessions. Following a brief two-day rally, where the index gained over 20 points or 1.6%, the Stock Exchange of Thailand (SET) now marginally exceeds the 1,340 threshold, and further declines might be anticipated on Thursday.

Globally, Asian markets are expected to show mixed results due to uncertainties surrounding interest rates. While European markets displayed a blend of performances, U.S. markets witnessed a decline, suggesting that Asian markets may show divided results.

On Wednesday, the SET registered a slight decline. Losses in sectors such as food, consumer goods, services, and technology were somewhat offset by strength in the financial sector. The index decreased by 2.58 points or 0.19% to close at 1,343.19, as it fluctuated between 1,341.32 and 1,351.68. A total of 6.345 billion shares were traded, valued at 27.434 billion baht. Within the market, there were 272 stocks that declined, 190 that advanced, and 205 that remained unchanged.

Prominent performances included Advanced Info's 1.04% fall, Asset World's 0.63% loss, and Banpu's 0.97% decrease. Meanwhile, Bangkok Bank gained 0.65%, and Bangkok Expressway surged 2.92%. Other notable movements involved B. Grimm's 1.27% retreat, BTS Group's 0.79% rise, and Energy Absolute's significant 8.38% plunge. Krung Thai Bank rallied with a 1.30% increase, and PTT Exploration and Production posted a 1.22% gain. In contrast, Thai Oil dropped 2.78%, and TTB Bank soared 3.14%. Stocks like Siam Concrete, True Corporation, Gulf, PTT, Bangkok Dusit Medical, and Thailand Airport saw no change.

In the U.S., Wall Street's sentiment softened, with key indices opening mixed but trending downward by close of business. The Dow Jones fell by 136.83 points or 0.31% to 44,713.52, the NASDAQ declined by 101.26 points or 0.51% to 19,632.32, and the S&P 500 decreased by 28.39 points or 0.47% to 6,039.31.

This downward shift followed the Federal Reserve's anticipated decision to maintain current interest rates during its first monetary policy meeting of 2025. The Fed emphasized that inflation remains "somewhat elevated" and reaffirmed its commitment to reducing it to the targeted 2%. The central bank's subsequent meeting is slated for March 18-19, with the CME Group's FedWatch Tool showing a 77.6% probability of rates remaining unchanged.

Oil prices saw a decline on Wednesday after data indicated a rise in U.S. crude inventories last week. Continued concerns about oil demand from China also contributed to the pressure on prices. West Texas Intermediate Crude oil futures fell by $1.15 or 1.56% to settle at $72.62 per barrel.